Shared vehicles could make up almost half of all vehicle traffic by 2030 in cities in some developing countries, according to a new report.

This could mean the car you own now might become redundant.

The report, issued by Bloomberg, detailed three possible scenarios for the future of transport, taking into account an increase in electric cars and autonomous vehicles.

Electric vehicles could account for two-thirds of all cars on the road by 2030 in wealthy cities, according to a new report. Stricter emissions regulation, falling technology costs and more consumer interest will drive people away from owning cars in cities. Stock image

Another scenario suggested by 2030, widespread door-to-door transport would be on demand, fuelled by a hybrid infrastructure.

Stricter emissions regulation, falling technology costs and more consumer interest will drive people away from owning cars in cities such as London and Singapore.

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Electric vehicles could account for two-thirds of all cars on the road by 2030 in wealthy cities, the report said.

THE FUTURE OF TRANSPORT?

Bloomberg looked at how electric vehicles and autonomous cars could change the face of transport.

The report imagines at least three possibilities for how it may play out.

The ‘clean and shared’ model, in large emerging economy cities like Mumbai, Delhi and Mexico City where shared vehicles could account for almost half of passenger miles by car by 2030.

The ‘private autonomy’ model, in high income suburban sprawl, where passenger miles travelled could grow by 25 per cent by 2030, due mostly to autonomous vehicles.

Or the ‘seamless mobility’ model, in densely populated high-income cities like London and Singapore where electric vehicles (EVs) could represent as much as 60 per cent of all vehicles on the road by 2030, the result of low-emission zones, consumer interest and favourable economics.

Electric vehicles (EVs) are becoming far more common.

To help lower harmful greenhouse gas emissions, governments are trying to encourage their uptake through subsidies and tax breaks and introducing low-emissions zones.

Technology costs are also falling rapidly.

The cost of a lithium-ion battery pack fell 65 per cent in 2015 to around $350 (£285) per kilowatt hour, from $1,000 (£816) per KWh in 2010.

This is expected to fall below $100 (£86) per KWh over the next decade, the report by consultancy McKinsey & Co and Bloomberg New Energy Finance (BNEF) showed.

'In densely populated, high-income cities like London and Singapore ... electric vehicles could represent as much as 60 per cent of all vehicles on the road by 2030, the result of low-emission zones, consumer interest and favourable economics,' the report said.

The report also predicts four in 10 cars being autonomous by 2030.

However, the growth of EVs could be a threat to the automotive sector.

The report also predicts four in 10 cars being autonomous by 2030. Autonomous cars were tested on UK roads for the first time yesterday, A pod, like a small two-seater car, developed by a company spun out from Oxford University is pictured during testing in Milton Keynes

'The automotive sector faces a future that could be fundamentally different from its past and may need to consider moving from using a pure product-ownership model toward providing a range of transportation services,' the report said.

Gasoline retailers should also be considering further monetization of their current assets and how to get more value from electric charging, the retail market and fleet services.

At a BNEF Future of Energy Summit in London on Tuesday, BP's chief economist Spencer Dale said: 'Electric vehicles could take off any time,' as shifts in social preferences cannot be modelled.

MOTORBIKE OF THE FUTURE

The motorcycle of the future is so safe riders can cruise without a helmet and never fall off, giving all of the thrills with none of the danger, according to BMW.

The German automaker unveiled its Motorrad Vision Next 100, a sleek, self-balancing prototype the company released as part of its 100th anniversary celebrations.

The zero-emissions bike has self-balancing wheels designed to stand upright even at a complete stop, stability that the company says will allow riders to forgo riding a helmet.

The self-balancing BMW Motorrad Vision Next 100 concept motorcycle is unveiled on the last of four international stops of the 'Iconic Impulses' event, celebrating 100 years of BMW. The zero-emissions bike has self-balancing wheels designed to stand upright even at a stop